Senate approves billions of dollars in tax credits for corporations
What economic emergency?
Pickens pickin' our pockets and greasing senators' palms.
House takes up Senate-passed tax break package
By JIM ABRAMS - 9 hours ago
WASHINGTON (AP) - Major tax legislation that would save 20 million people from the clutches of the alternative minimum tax and renew dozens of popular tax breaks for businesses and individuals is being taken up in the House, where its fate is uncertain.
The tax package passed the Senate on Tuesday on a 93-2 vote, but faces obstacles in the House, where fiscally conservative Democrats object to tax relief that is not paid for with an increase in revenues elsewhere.
The House plans to offer a competing version as early as Wednesday that raises more revenue by closing loopholes used by hedge fund managers and corporations doing business overseas. That could complicate getting a bill to the president before Congress adjourns for the year.
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Pickens pickin' our pockets and greasing senators' palms.
House takes up Senate-passed tax break package
By JIM ABRAMS - 9 hours ago
WASHINGTON (AP) - Major tax legislation that would save 20 million people from the clutches of the alternative minimum tax and renew dozens of popular tax breaks for businesses and individuals is being taken up in the House, where its fate is uncertain.
The tax package passed the Senate on Tuesday on a 93-2 vote, but faces obstacles in the House, where fiscally conservative Democrats object to tax relief that is not paid for with an increase in revenues elsewhere.
The House plans to offer a competing version as early as Wednesday that raises more revenue by closing loopholes used by hedge fund managers and corporations doing business overseas. That could complicate getting a bill to the president before Congress adjourns for the year.
--MORE--